Uptrend Post-March 2025
The US Tariff news, though causing a temporary dip, didn’t break the trendline, indicating strong buying interest on dips.
Event-Driven Dips
US Tariff News (Early April):
Caused a sharp red candle, but was quickly bought into, forming a bullish pattern — often a sign of trend continuation.
Iraq/Iran Conflict (Early June):
Another dip occurred, briefly violating the trendline but closing with a large green candle — market resilience noted again.
Market Psychology & Sentiment
Buy-on-dips Strategy seems to dominate.
Events like tariffs or geopolitical tensions are triggering knee-jerk reactions, but institutional support is evident.
Technical Takeaways:
Trendline Support (starting from March low) remains valid; multiple touches confirm its strength.
25,200 is a key horizontal resistance; a decisive breakout above this may fuel fresh highs.
Watch for:
Break above 25,200: likely continuation toward 26,000+
Breakdown below 24,200: could test 23,600 and then 22,800
The US Tariff news, though causing a temporary dip, didn’t break the trendline, indicating strong buying interest on dips.
Event-Driven Dips
US Tariff News (Early April):
Caused a sharp red candle, but was quickly bought into, forming a bullish pattern — often a sign of trend continuation.
Iraq/Iran Conflict (Early June):
Another dip occurred, briefly violating the trendline but closing with a large green candle — market resilience noted again.
Market Psychology & Sentiment
Buy-on-dips Strategy seems to dominate.
Events like tariffs or geopolitical tensions are triggering knee-jerk reactions, but institutional support is evident.
Technical Takeaways:
Trendline Support (starting from March low) remains valid; multiple touches confirm its strength.
25,200 is a key horizontal resistance; a decisive breakout above this may fuel fresh highs.
Watch for:
Break above 25,200: likely continuation toward 26,000+
Breakdown below 24,200: could test 23,600 and then 22,800
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.